Nasdaq debut and upsized deal for krakacquisition corp following $345 million SPAC IPO

Backed by a prominent crypto-industry sponsor, krakacquisition corp has completed a major market listing that underscores ongoing investor interest in SPAC structures.

Details of the upsized SPAC initial public offering

KRAKacquisition Corp (the “Company”), a special purpose acquisition company sponsored by an affiliate of Natural Capital, Tribe Capital, and Payward, Inc. (“Kraken“), confirmed the closing of its upsized initial public offering on January 30, 2026. The transaction highlights continued demand for blank check vehicles in US capital markets.

The Company sold a total of 34,500,000 units, including an additional 4,500,000 units issued pursuant to the full exercise of the underwriter’s over-allotment option. Moreover, the offering was priced at $10.00 per unit, generating gross proceeds of $345 million before underwriting discounts, commissions, and other offering expenses payable by the Company.

The krakacquisition initial public offering structure follows standard SPAC terms, but the upsizing and full over-allotment exercise point to robust institutional participation. That said, investor appetite will ultimately depend on the quality of the future business combination target.

Nasdaq listing and unit structure

The Company’s units began trading on the Nasdaq Global Market under the ticker symbol KRAQU on January 28, 2026. However, the securities included in the units are expected to separate and trade independently after an initial period, subject to customary conditions.

Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant. Moreover, each whole warrant will entitle the holder to purchase one Class A ordinary share at an exercise price of $11.50 per share. Once separate trading commences, the Class A ordinary shares and warrants are expected to list on the Nasdaq Global Market under the ticker symbols KRAQ and KRAQW, respectively.

This unit composition aligns with typical SPAC deal terms, providing investors with both equity exposure and optionality through warrants. That said, warrant holders will only benefit if the post-merger share price exceeds the stated exercise level.

Strategic focus and business combination mandate

KRAKacquisition Corp was formed to pursue a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. However, the Company has not yet identified a specific target and has not engaged, directly or indirectly, in substantive discussions with any potential counterparties.

The SPAC describes itself as a blank check vehicle targeting operating businesses, with flexibility across sectors. Moreover, the Company’s sponsorship by an affiliate of Kraken signals potential strategic interest in digital assets, fintech, or broader technology verticals, although no precise industry mandate has been disclosed.

Market observers note that the krakacquisition ipo closing announcement arrives amid cautious, but improving, sentiment toward equity capital markets. That said, any eventual merger will be subject to shareholder approval and standard regulatory review.

Underwriter and regulatory status

Santander US Capital Markets LLC is acting as the sole underwriter for the offering, managing bookbuilding and distribution of the units to institutional and other qualified investors. The full exercise of the over-allotment option suggests solid demand during the marketing phase.

A registration statement on Form S-1 relating to these securities became effective on January 27, 2026, under Section 8(a) of the Securities Act of 1933, as amended. Moreover, this effectiveness allowed the Company to proceed with the public sale of its units on the Nasdaq Global Market.

Regulatory clearance and exchange listing conditions remain central for any SPAC transaction, ensuring disclosure standards and investor protections are maintained. However, future filings will further detail the proposed merger once a target is selected.

About KRAKacquisition Corp and outlook

KRAKacquisition Corp is a blank check company established to effect a business combination with one or more operating businesses. The Company is sponsored by an affiliate of Kraken, a well-known name in the global digital asset ecosystem.

Moreover, this sponsorship may provide access to sector expertise, deal flow, and a broad network within technology and financial markets. The combination of a Nasdaq listing, substantial capital base of $345 million, and experienced backers positions the vehicle to compete actively for high-growth targets.

In summary, the completion of the offering, the krakacquisition over allotment exercise, and the start of unit trading on Nasdaq create a fully capitalized platform ready to pursue a future business combination once market and strategic conditions align.